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1st positive thread on here on how you CAN get your 1st home

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1st positive thread on here on how you CAN get your 1st home

74 replies 2.7K views
triathlontriathlon Forumite
969 posts
500 Posts Second Anniversary
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This message board has been here a while now and many of the messages on here are so negative, which I find troubling in a country with so many opportunties. In all this time and all the messages and opinions there has not been one thread on how you CAN get on the property ladder.
I know there is a cynical bunch out there who just want to keep believing that life is unfair for them and that it is impossible to buy their own home, just stay away from this thread please. I am in a rush now, but here is a start for those young people, and I speak with a lot of experience.

1. Cut out the holidays and short breaks for a few years.
2. Do all your own cooking(and eat like a king for a 10th of the price sometimes)
3. Make that mod con last several years +, and that's from being 2nd hand
4. Look into what assistance is there to help you from the government(never been better than now)
5. Get that second job while you are young and have the energy, rest later in life.
6. Don't focus on other people luck, yes life isn't fair sometimes.
7. Get lodger for a while, 1st home or help with renting
8. Yes you need to have some fun in life, but be creative with it( I just a seal dive for £20) in Northumberland, and took my own food, flask malt etc.
9. Throw everything into you home first few years.

This is just a start, so much you can do to make it happen and you will be glad you did, don't pray for a day when it is going to get easier, make a start today..
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Replies

  • triathlontriathlon Forumite
    969 posts
    500 Posts Second Anniversary
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    I am willing to bet that a few of us if we knew the circumstances of several of the more unhappy members concerning housing issues we could help them to get their own homes.
    I genuinely would much prefer to help some of these people get in their own homes than take the mick for years on end.

    Come on Guys, just ask if you want help, stop putting yourselves down and talking yourself into a negative mind set, it's not too late for most of you.
  • HerzlosHerzlos Forumite
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    10,000 Posts Eighth Anniversary Name Dropper
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    So basically live like a pauper for 5+ years and hope the house price doesn't grow faster than you can save?


    I agree some effort is needed to get onto the ladder, but the balance seems a bit off.
  • isplummisplumm Forumite
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    Herzlos wrote: »
    So basically live like a pauper for 5+ years and hope the house price doesn't grow faster than you can save?


    I agree some effort is needed to get onto the ladder, but the balance seems a bit off.

    I would just point out that is what I had to do back in 1997 when I bought my first house - all our furniture was either 2nd had or free - we didn't go out for months.

    It was a struggle.

    Mark
    We’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email [email protected]
  • triathlontriathlon Forumite
    969 posts
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    Herzlos wrote: »
    So basically live like a pauper for 5+ years and hope the house price doesn't grow faster than you can save?


    I agree some effort is needed to get onto the ladder, but the balance seems a bit off.

    Depends how much you value a home over over other things. Once I got over the toughest stage of buying my first home I found that my home from then on proved to be my foundation to everything else good that came in my life, I wouldn't change a thing and am more than willing to help others do the same, accept many on here are hoping and praying for an easier way
  • triathlontriathlon Forumite
    969 posts
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    isplumm wrote: »
    I would just point out that is what I had to do back in 1997 when I bought my first house - all our furniture was either 2nd had or free - we didn't go out for months.

    It was a struggle.

    Mark

    Yep, it was the same for most of us that moved into our 1st home.
    Isn't odd, so many people on this board unhappy that they cannot buy their first home, claim they can't anyway. Yet not one willing to take or ask for advice how they CAN do it.
    A lot of these "I cannot buy" types on this board claim to be on above average wages with money saved etc, I bet if the told as what area they lived, their earnings and savings, I bet we could find a plan for them in no time and I am willing to be we could find them a house today if the were willing to make compromises
  • jimi_manjimi_man Forumite
    280 posts
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    Herzlos wrote: »
    So basically live like a pauper for 5+ years and hope the house price doesn't grow faster than you can save?


    I agree some effort is needed to get onto the ladder, but the balance seems a bit off.
    Yes, that's what I did. Also I seem to recall that interest rates were something like 8-9%, which made the mortgage payments a little on the pricey side. We stopped going out for dinner and getting takeaways (I've probably had no more than half a dozen since then - 27 years ago and we rarely go out for dinner).

    Like so many things in life, if you want something and you can't afford it then it's usually best to sacrifice things to save for it.

    However with buying houses there is also an easy alternative. For people who don't want to save, then they can always rent. Problem solved.

    Aside from those two options, I'm not sure if there is any other solution?
  • triathlontriathlon Forumite
    969 posts
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    jimi_man wrote: »
    Yes, that's what I did. Also I seem to recall that interest rates were something like 8-9%, which made the mortgage payments a little on the pricey side. We stopped going out for dinner and getting takeaways (I've probably had no more than half a dozen since then - 27 years ago and we rarely go out for dinner).

    Like so many things in life, if you want something and you can't afford it then it's usually best to sacrifice things to save for it.

    However with buying houses there is also an easy alternative. For people who don't want to save, then they can always rent. Problem solved.

    Aside from those two options, I'm not sure if there is any other solution?


    Could not put it better myself.

    I want to play blues guitar or the saxophone like the greats, the only difference is unlike them I want to wake up tomorrow morning and without the decades of practice and for it to just happen.
    The silence of these bitter "bears", and I put it the word bears in inverted commas because I don't think they are true bears, but just wishing and praying for an outcome, is deafening, not one of them have the guts to just ask, how can I do it?.

    Just look now at the 1st page of HPC after their millions of jealous and bitter posts, there is not one post concerning a property crash, they have 100% now given up. There is only one way to own a home for most people, and that is to put the graft and sacrifice in, end of
  • edited 19 December 2019 at 11:58AM
    rupertsruperts Forumite
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    edited 19 December 2019 at 11:58AM
    I believe the appropriate expression here is "ok boomer".

    I'm sure your offer to help is very genuine and meant with the best intentions but unfortunately I doubt you have the ability to turn back the clock to when you could pick up good houses for less than twice the average salary.

    I am a homeowner before anyone feels the need to rant at me about avacados, and yes while it took a lot of hard work and sacrifice over several years, it's not something the average person should be unable to achieve.

    But my lord when I see how cheap houses used to be... I'd probably have a dozen houses by now if I was born 30 years earlier. Things must have been so very, very easy compared to now.
  • edited 19 December 2019 at 2:29PM
    frugalandsavefrugalandsave Forumite
    27 posts
    10 Posts First Anniversary
    edited 19 December 2019 at 2:29PM
    I am 30 now and can give my experience from what worked for me.

    While i was at Uni, i decided to study close to home and live with my Mum. The student loans i received for living, I split between paying rent to my Mum (she is only renting too) and saving for a deposit for a house. I had two part time job as well, while studying. One was cleaning early in the morning 5-8 AM and other on Uni Campus which i could fit around my lectures. I managed to earn about £500-600 a month. During the long summer holidays i went abroad and taught English in Summer Camps. That paid for my "holidays". There i connected with people that lived around Europe, so later i was even able to visit them and stay with them for free. So that reduced the cost of "city breaks".
    When i finished Uni I had a good deposit under my belt and started working full time and saved some more for the first 2 years. Salary was just about 18 K a year. I guess location helps as we are living in the north. So I managed to buy my first house at age 25 with a 20 K saved. I didnt forgo anything, just worked hard, and looked at minimizing cost while trying to do a bit of everything. Of course a big thanks goes to my mum who i lived with while saving, but she was on low wages as a TA.

    When starting early and knowing the goal, it is possible with balance. Also the work didnt stop me from studying at Uni, managed to get at least a 2.1 which helped in the end to land a full time job. Just my perspective.

    Additionally, what i think helps with not missing out on a lot of other things are (but have to be organised):

    Food & Entertainment:
    - Sign Up for free stuff with Apps and other free stuff for like beer, coffee, etc.
    - Meerkat Movies & Meals (Buy insurance for 1 day, and its like £2)
    - Sky VIP App: I regular get free cinema screenings on there. Have to be a Sky customer though. I only have Broadband with them.
    - Ikea Family card for some free stuff to eat/drink in their resturant

    Money:
    - Use Cashback Website
    - Apps such as MobileXpression (gives Amazon Vouchers), Nielson Mobile App (Amazon Voucher)or Embee Meter CX
    - Cashback Credit Card or Debit Card
    - Have 2nd Bank Account for Switching Incentives. I do that every 6-7 months.
    - Find some online Job like with Appen
    - Also match the pension contribution at work to collect the free money from Tax saving & employer contribution

    Travel:
    - Collect all Airline Air miles in the Frequent Flyer Program. I have BA Exec Club, Lufthansa Miles & More, Virgin Airways, Flying Blue with KLM.
    - Have a "free" credit card to collect air miles. My favorite is the Amex Rewards Credit Card. Doesnt cost anything and i get 1 Air mile for each Pound. I can then send this to any of the above Flying Programs to redeem. You can also do more to earn more miles but it becomes more complicated.
    - Tesco Club Card for the points. I dont shop at Tesco, but i often Fuel up there and get the points. These i transfer to BA or Virgin. Every year it ads up to £12-15 which i can convert to extra miles.
    - Collect Hotel points with Hotels.com or other websites.
    - Booking flights early with Easyjet just when they release flights. I do this at least once a year and get flights to Greece for example for £50-£60 pp return.

    I use a spreadsheet and track it all. I update it once a month and it takes me about 30 mins to update. Once up an running its pretty good. I have an App with all my membership barcodes/numbers. So i dont have endless membership cards in my wallet.
  • A positive note is the 30% discount promise that got Boris the win
    The thing about chaos is, it's fair.
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